Restaurant chains are weathering the pandemic and economic slowdown better than independent eateries, as Spencerjakab explains WSJWhatsNow
Chains weathered the pandemic better than independent eateries, and they might do better in an economic slowdown too
Demand for food delivery has soared amid the pandemic, but restaurants are struggling to survive. In a fiercely competitive industry, delivery services are fighting to gain market share while facing increased pressure to lower commission fees and provide more protection to their workers. Video/Photo: Jaden Urbi/WSJHow do you make a small fortune? Start with a large one and open a restaurant.
The difficulties of running a U.S. eatery, whether selling hot dogs or haute cuisine, are well known, yet hope continues to triumph over experience. In a country saturated with chains, NPD Group estimates that about 53% of restaurants are still independent, despite their high failure rate—especially in the first year. The pandemic made being a restaurateur even tougher: About 10% of independent restaurants shut down in 2020 compared with just 2.
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